Why was the British industry not enough big and prepared for the scale of such huge conflict like the first WW1 ?

Tulius

Ad Honorem
May 2016
6,426
Portugal
He'll be back ... I think this was his third remuntada.

But I confess, I prefer F.C. Barcelona's remuntada
"I'll be back" is a common phrase in the Schwarzenegger’s movies… isn’t it?

Or it was from Douglas MacArthur?

And… hmm… at the moment I am not a great fan of F.C. Barcelona! :)
 
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deaf tuner

Ad Honoris
Oct 2013
14,812
Europix
Well, with these kind of "trends", it's a pity for the subject itself: economical aspects are rather under-represented in historical discussions. We have some fellow historumites knowledgeable on the matter, but they get buried under the pseudo-argumentation, when not simply running from it. Understandable, I'd say.

And… hmm… at the moment I am not a great fan of F.C. Barcelona! :)
Never been. But I preferred to not mention Belgium vs Japan as an example of remuntada ... for not passing for a Belgian Jánossy ... :rolleyes:
 

Tulius

Ad Honorem
May 2016
6,426
Portugal
Well, with these kind of "trends", it's a pity for the subject itself: economical aspects are rather under-represented in historical discussions. We have some fellow historumites knowledgeable on the matter, but they get buried under the pseudo-argumentation, when not simply running from it. Understandable, I'd say.
You clearly don’t know one of the hottest threads in this forum, one that a couple of years ago I started, trying to collect economical data:

Wealth and income of European/Mediterranean rulers (1500-1525)

We reached the outstanding number of… 6 posts!!! :)

Thanks to the posters that contributed to it, by the way!!! In the meanwhile, if anyone has information on the topic… please post! (this is something like an advertising space to that thread!)
 
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Jul 2019
159
Pale Blue Dot - Moonshine Quadrant
Great post, loads of information and a much more nuanced answer to some stupid posting on this thread than expected. To clarify things even more I seem to remember that a great deal of the credit forwarded from the US to the UK was secured against existing assets owned by the UK, is this true and if so is there information as to what proportion were secured.
I have not heard that existing assets were used to secure the loans. I believe the loans were almost exclusively sovereign loans, which are typically backed by a promise to tax. I would not put anything past the House of Morgan, but I have not heard of them seizing any assets. Frankly, they did not need to as its people pretty much ran the Federal Reserve in those days so they could recoup.

In the debt struggles all over Europe after the war, retirement of the loans was pretty chaotic and limited. The U.S. was the primary creditor for the Allies and to a significant degree the Allies depended on German reparations to repay the U.S.

So the Allies were in a bind. They needed Germany to prosper for reparations to be paid, but a prosperous Germany, rightly or wrongly, also frightened them militarily – at least as a potential.

The German’s themselves had a world of trouble internally with political polarization and a debauched currency. To over simplify, Germany borrowed (mainly from the US) to pay reparations that the Allies sent to the U.S. as part of their debt retirement. That game blew up in 1929.

Much of the debt was still outstanding when the Great Depression arrived and with the resulting currency devaluations after 1931 the debt numbers became increasingly decoupled from original value of the loan.

The article I linked to about Keynes discusses his efforts to get the U.S. debt forgiven. Once that effort failed England was really squeezed – a problem made worse by its own errors regarding the value of the Pound during the 1920’s.
 

Lord Fairfax

Ad Honorem
Jan 2015
3,498
Sea of Fate
, because Lord Telefax, pigsvillage and their comrades will say...
Lord Telefax?
Pigsvillage?

memebetter.com-20200108184749.jpg

Apparently my exposing his bogus facts and debunking his flawed theories has so disturbed him.


Ad Homenim - the last resort of a losing argument...


Goodbye Mr. Janos
 

martin76

Ad Honorem
Dec 2014
6,909
Spain
UK borrowed money (to other Entente countries as France, Russia, Italy, etc etc) and also recieved money (from USA).
 

Kevinmeath

Ad Honoris
May 2011
14,133
Navan, Ireland
and you foget the war materials what the weaker and more backward British industry was unable to provide without Uncle Sam. In a comparison with Germans Brits were unable to produce superior quality battleships, so Brits believed in big quantity of ships rather than quality.
This is simply untrue not only was British industry not backward and able to supply its military and supplement the Americans the reason they had more Dreadnoughts (and all other ships) was not because the Germans opted for quality over quantity but rather because they could simply out build the Germans and there was not great difference in the designs ---- they continually changed as each side reacted and developed their designs.
 
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